KJTS 3Q net profit drops 46% as administrative expenses increase

• For the cumulative first nine months ended Sept 30, 2024 (9MFY2024), the group posted a net profit of RM4.91 million, down from RM5.93 million in the same period last year.

KUALA LUMPUR (Nov 26): Building support services provider KJTS Group Bhd (KL:KJTS) said its third-quarter net profit fell 46.4% year-on-year despite a higher revenue, due to an increase in administrative expenses.

Net profit for the quarter ended Sept 30, 2024 (3QFY2024) dropped to RM2.01 million from RM3.76 million previously, it showed in a bourse filing on Monday. Earnings per share declined to 0.3 sen from 0.8 sen.

The group said the administrative expenses included employee share option scheme expenses of RM1.60 million.

Quarterly revenue rose 11.8% to RM33.54 million from RM30.01 million in 3QFY2023, driven by the cooling energy and cleaning services segments.

KJTS did not declare any dividend for the latest quarter.

For the cumulative first nine months ended Sept 30, 2024 (9MFY2024), the group posted a net profit of RM4.91 million, down from RM5.93 million in the same period last year.

However, 9MFY2024 revenue was up 11.7% to RM98.72 million from RM88.40 million. The cooling energy segment generated a revenue of RM46.20 million (46.80% of the top line), while cleaning services contributed RM42.20 million (42.75%).

On its prospects, KJTS said the government’s emphasis on development spending and sustainable energy solutions provides an ideal landscape to enhance the group’s footprint and capabilities.

“As we continue to extend our footprint across Malaysia, Singapore, and Thailand, our strategy remains focused on capturing regional growth opportunities and delivering impactful solutions that meet both commercial and environmental needs,” it added.

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